New requirements for the first installment on a preferential mortgage will come into force on December 23.
Due to the changes in the mortgage program introduced by the Russian Federation Government, it is important to be aware of new requirements and opportunities for obtaining a preferential mortgage. Let's take a closer look at the main changes and additional programs available to potential borrowers.
One of the main changes is increasing the down payment on a preferential mortgage to 30%. The new requirements will take effect on December 23, 2023 - so those who plan to take advantage of a preferential mortgage should consider these changes.
Preferential mortgages can be used to purchase or build housing on the primary market. T he government at 8% per annum sets the interest rate, but banks can offer more favorable terms. The maximum amount of a preferential mortgage loan for all regions of Russia, including the capital cities, is now 6 million rubles. This is also an important aspect to consider when planning a home purchase using a preferential mortgage.
In addition to the main preferential mortgage program, there are other programs that may be of interest to potential borrowers. For example, families with children have the opportunity to get a mortgage at a rate of up to 6% per annum. A separate program is also provided for IT specialists, which allows them to get a loan at a rate of up to 5%. And for those who plan to purchase or build housing in the Far East and the Arctic regions of Russia, there is a special mortgage program with an interest rate of up to 2%. In general, changes in the parameters of preferential mortgage programs reflect the current state of the housing market and the financial capabilities of potential borrowers. It is important to carefully study all available programs and choose the most suitable one for your needs and capabilities.
Need help getting a mortgage in St. Petersburg? Call the «Nevsky Prostor» certified real estate agency, and we will help you get a mortgage loan from a partner bank on favorable terms.
Contact us:
• Tel: +7 (812) 325-38-38 (from 9-00 to 21-00 on weekdays; from 10-00 to 18-00 on weekends and public days)
• Address: Russia, 199406, Saint Petersburg, Nalichnaya Street, 22
• You can also ask our specialists online
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